Trump-linked miner American Bitcoin going public via Gryphon merger

Quick Summary:

Hut 8 CEO Asher Genoot said the company aims to make American Bitcoin “a purpose-built vehicle for low-cost Bitcoin accumulation at scale.” He added:“By taking American Bitcoin public, we expect to unlock direct access to dedicated growth capital independent of Hut 8’s balance sheet, while preserving long-term exposure to Bitcoin upside for our shareholders.”Related: Top Bitcoin miners produced nearly $800M of BTC in Q1 2025Shareholders and post-merger structureAccording to the announcement, existing American Bitcoin shareholders will own roughly 98% of the newly formed company.

Bitcoin mining firm American Bitcoin is going public through a merger with crypto mining firm Gryphon Digital Mining, the companies announced on May 12.

After the merger, the new company will operate under the American Bitcoin brand and be led by its board of directors, which includes Eric Trump, son of US President Donald Trump.

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Article Details

Author / Journalist: Cointelegraph by Adrian Zmudzinski

Category: Crypto

Markets: United States

Topics: Announcement Company Mining Digital American Merger Trump Gryphon Public Firm Bitcoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-12 @ 15:13:31 (13 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 403 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 28615527

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